The Real Deal New York

Resnick, Fortis reach settlement in “One Seaport” dispute

Fortis agrees to market new condo tower as "1 Seaport" instead

December 02, 2015 10:25AM
By Rey Mashayekhi

1 Seaport Fortis

Rendering of 1 Seaport condo tower at South Street Seaport (inset: Joel Kestenbaum)

Two One Seaports may be one One Seaport too many. But one One Seaport and one 1 Seaport? That’s perfectly fine.

Jack Resnick & Sons and Fortis Property Group have reached a settlement over Fortis’ disputed use of the “One Seaport” moniker to promote its new 60-story condo tower at 151 Maiden Lane in the South Street Seaport.

Midtown-based Resnick filed suit against Fortis in September, claiming the Dumbo-based developer was infringing on Resnick’s trademark for its 35-story, 1.1 million-square-foot office tower at 199 Water Street – dubbed One Seaport Plaza, and mere blocks away from Fortis’ condo development site.

But the two sides announced Wednesday that they have entered into a settlement agreement to resolve the matter, with Fortis agreeing to market 151 Maiden Lane as “1 Seaport” instead of “One Seaport.”

In addition, Fortis will only use the “1 Seaport” moniker for an agreed upon marketing period – after which the developer will discontinue all uses of either “1 Seaport” or “One Seaport” in connection with the new condo tower.

Neither Resnick nor Fortis had further comment on the matter.